The growth comes after regulators responded to COVID-19 by loosening rules that had previously hindered the work of digital therapeutics developers.
Fitness and health wearables will become a $20 billion hardware market annually within 5 years, according to Juniper Research.
Juniper Research has scaled back its estimates for market growth, and now anticipates that less than 60 million smartwatches will be shipped annually by 2021.
The greater consumer affinity with connected devices will be accompanied by an upsurge in the adoption of platforms such as Apple Health and Google Fit.
The adoption of these services will increase as service providers roll out initiatives to tackle issues such as infant mortality and infectious diseases.
At the end of 2019, the situation will look different with 110 million people using fitness wearables, and 130 million - smartwatches.
In sharp contrast, Android Wear shipments comprised less than 10% of sales for the year; consumers are having hard time imagining use cases for smartwatches.
Although the company's CEO Tim Cook hasn't shared any figures, the research firm looked at the iPhone maker's earnings to get to the estimate.
Connected health devices and the data they generate will offer benefits to stakeholders and consumers, potentially improving preventative healthcare.
The leader of fitness tracking market on the long run will remain Fitbit, despite their decision not to integrate with Apple's HealthKit.
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